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Home >> Business
UPDATED: 12:54, May 16, 2007
Myanmar's foreign trade sets record high in 2006-07
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Myanmar's foreign trade volume hit 8 billion U.S. dollars in the fiscal year 2006-07 which ended in March, exceeding the target of 7 billion dollars, according to the latest figures released by the Ministry of Commerce.

Of the total which set a new record high in 18 years since 1989, exports accounted for 5 billion dollars, while imports took 3 billion dollars, registering a trade surplus of 2 billion dollars, the figures show.

In 2005-06, the country's foreign trade volume reached 5.54 billion dollars, up 12 percent from the previous fiscal year, and enjoyed a trade surplus of 1.6 billion dollars, according to official statistics.

The Ministry of National Planning and Economic Development attributed the trade surplus gained in the last two years mainly to the export of natural gas, followed by that of agricultural, mineral and marine products.

Myanmar has enjoyed trade surplus in the past five consecutive years since 2002-03, before which it suffered a trade deficit for many years.

Myanmar's foreign trade is mainly with Asian countries which account for 90 percent of the total. It is followed by European countries, 4.8 percent and American countries 1.5 percent.

Myanmar's trade with other member countries of the Association of Southeast Asian Nations (ASEAN) accounts for 51.3 percent of the total.

Myanmar mainly imports machinery, crude oil, edible oil, pharmaceutical products, cement, fertilizer and consumer goods.

Source: Xinhua

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